Crime spot: The Bur Dubai street behind the popular BurJuman mall where the crime took place Image Credit: Jay B. Hilotin/XRESS

Dubai: Dubai police are hunting four knife-wielding suspects who stabbed a Dutch businessman behind BurJuman mall before running away with $4.8 million (Dh17.6 million) in a sensational daylight robbery.

The attack occurred shortly before 1pm on March 27 behind the popular mall located near a posh business and residential community in Bur Dubai.

The victim is a tourist and the four suspects are believed to be of Eastern European origin, a police source said, declining to give more details.

Eyewitnesses said police and emergency medical teams arrived at around 1pm at the crime scene on Street 28A, Community 317.

"There was a big commotion at around 1pm on Sunday at the parking lot just behind BurJuman mall," a staff at a nearby hotel apartment said.

"There were several police patrol cars. An ambulance crew treated what looked like an injured man," he added.

The community comprises medium-rise residential apartments and hotels behind a row of banks and retail shops.

Police said the victim was rushed to Rashid Hospital in a critical state and is now recovering following surgery. A Rashid Hospital official confirmed the Dutchman is being treated for stab wounds, but declined to comment further on his condition.

An official at the Criminal Investigation Department of Dubai Police said they are still investigating the robbery.

The suspects reportedly followed the victim after he collected money from a money exchange in the Naif area of old Dubai.

When the victim reached the parking lot area behind the mall, the suspects lunged upon him with knives and made away withthe bag containing the money.

It was not clear how the victim travelled from Naif to the mall.

It was also not clear how much the cash bag weighed, but according to some estimates, $1 million (Dh3.67 million) in $100 banknotes weighs about 22 pounds (around 10kg).

The Dutch consulate in Dubai declined to comment.